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Today, the Federal Ministry of Finance announced on its official X page that small businesses across Nigeria will now follow new, easier tax rules.
The ministry said the rules are designed to make paying taxes simpler. They further emphasized that they will not increase current tax rates and they will Nigerians a clearer way to join the formal economy.
According to the ministry, its goal is to expand the tax base systems rather than raising taxes. These changes are expected to help more businesses operate officially and reduce burdens that often makes compliance difficult.
